Description
South Africa represents the biggest domestic market for vehicles in Africa and accounts for 83.0 percent of the continent's production. South Africa's population of 46.6 million (2004) and a growing tourism industry still represent the continent's best growth prospects for increasing vehicle sales and aftermarket revenues. Rising living standards, improvement in transportation infrastructure, easy access to automotive finance and lesser interest rates are expected to drive expansion in the South African automotive vehicle market. Apart from the thriving domestic market, the export market is also set to grow as South Africa is seen as a low-cost manufacturing base and accessible to other markets in the region.
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